Equities analysts expect Syntel, Inc. (NASDAQ:SYNT) to post $214.93 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Syntel’s earnings, with the highest sales estimate coming in at $219.83 million and the lowest estimate coming in at $211.90 million. Syntel posted sales of $237.89 million in the same quarter last year, which suggests a negative year-over-year growth rate of 9.7%. The business is expected to report its next quarterly earnings results on Thursday, February 15th.

According to Zacks, analysts expect that Syntel will report full-year sales of $214.93 million for the current year, with estimates ranging from $896.00 million to $903.85 million. For the next fiscal year, analysts forecast that the company will report sales of $893.44 million per share, with estimates ranging from $880.00 million to $922.84 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Syntel.

Syntel (NASDAQ:SYNT) last announced its quarterly earnings data on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.17. Syntel had a net margin of 18.64% and a negative return on equity of 119.25%. The company had revenue of $231.34 million during the quarter. During the same period in the prior year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was down 4.1% on a year-over-year basis.

Several brokerages have recently commented on SYNT. ValuEngine lowered shares of Syntel from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Syntel from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Cantor Fitzgerald restated a “hold” rating and set a $16.00 price target on shares of Syntel in a research note on Thursday, July 20th. Cowen and Company restated a “hold” rating and set a $18.00 price target on shares of Syntel in a research note on Thursday, October 12th. Finally, BidaskClub upgraded shares of Syntel from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Syntel presently has a consensus rating of “Hold” and a consensus target price of $23.10.

Shares of Syntel (NASDAQ SYNT) opened at 23.91 on Wednesday. Syntel has a 52 week low of $15.82 and a 52 week high of $25.80. The stock’s 50 day moving average is $19.85 and its 200 day moving average is $18.26. The stock has a market capitalization of $2.00 billion, a PE ratio of 11.66 and a beta of 1.06.

Syntel declared that its board has initiated a share repurchase plan on Thursday, July 20th that permits the company to repurchase $60.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

A number of large investors have recently bought and sold shares of the stock. Eqis Capital Management Inc. grew its stake in Syntel by 4.2% in the 2nd quarter. Eqis Capital Management Inc. now owns 12,774 shares of the information technology services provider’s stock valued at $217,000 after buying an additional 515 shares during the last quarter. Rhumbline Advisers grew its stake in Syntel by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 43,880 shares of the information technology services provider’s stock valued at $744,000 after buying an additional 553 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Syntel by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,574 shares of the information technology services provider’s stock valued at $468,000 after buying an additional 683 shares during the last quarter. Legal & General Group Plc grew its stake in Syntel by 8.0% in the 2nd quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock valued at $202,000 after buying an additional 881 shares during the last quarter. Finally, BRYN MAWR TRUST Co grew its stake in Syntel by 0.9% in the 2nd quarter. BRYN MAWR TRUST Co now owns 110,661 shares of the information technology services provider’s stock valued at $1,877,000 after buying an additional 987 shares during the last quarter. Institutional investors and hedge funds own 34.78% of the company’s stock.

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About Syntel

Syntel, Inc (Syntel) is a global provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom.

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Earnings History and Estimates for Syntel (NASDAQ:SYNT)

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